Delhi, July 10: Trading on the National Stock Exchange hit a major stumbling block on Monday as prices failed to get updated during early morning trading. The key stock exchange has attributed the problem to a technical glitch, vowing to resolve the issue as soon as possible.
The NSE has further expressed that trading is expected to resume by 11:15 AM. Traders reported that their price quotations were not getting recorded for all individual stocks and that indices were failing to record any of the price changes. The cash, as well as, the futures & options segments of the exchange had to be shut down.
In its statement, the National Stock Exchange clarified, “Due to technical reasons in cash market the opening of the market (Cash and F&O segment) has been further delayed. Market re-open time will be intimated.” Meanwhile, the Bombay Stock Exchange (BSE) stated that its operations were progressing as normal.
The National Stock Exchange will also conduct its pre-opening trading session before the start of the formal trade session. Experts feel that the occurrence of the incident is unfortunate at a time when the markets are touching new highs.
Sanjay Dutt of Quantum Securities was quoted by CNBC-TV18 as having said, “It is unfortunate to see this spectacle on a day when the market is touching new highs. The key element is timely communication and timely action, which is lacking in this case.”
Both the Sensitive Index (Sensex) and National Stock Exchange’s 51-scrip recorded fresh highs. While the S&P BSE Sensex touched a high of 31,595.46 in opening trade, the Nifty50 gained 58.90 points or 0.61 per cent to reach 9,765.90. Meanwhile, officials from the Finance Ministry said that the government is aware of the technical glitch at NSE and has, in turn, informed the Securities and Exchange Board of India of the same.